NICE Offers Mobile Phone Interaction Recording & Analytics for Addressing Regulatory Compliance Needs of Financial Investment Firms
Open architecture offering will enable financial services firms to reduce risk and adhere to UK FSA requirements
RA’ANANA, ISRAEL - NICE Systems (NASDAQ: NICE), a leading global provider of advanced solutions that enable enterprises and security organizations to extract Insight from Interactions, transactions and surveillance to drive business performance, reduce risk and ensure safety, today announced capabilities to enable recording, management, and analysis of mobile phone interactions. The NICE offering has an open recording architecture that is based on industry recording standards, providing an interface to enable automatic recording of incoming and outgoing interactions that take place on mobile devices. The offering may be deployed as part of an existing NICE SmartCenter Interaction Recording implementation, decreasing implementation costs and providing maximum investment protection, or in any telephony environment, with any carrier and Smartphone that is commonly being used. In addition, it will enable companies to reduce risk with automatic alarming and monitoring capabilities for expedient identification and investigation of suspicious events for improved compliance, reduced risk, increased flexibility, minimized total cost of ownership, and ease of use. NICE also announces its Mobile Recording Solution Integration Certification Program for NICE Business Partners that offer the NICE solution and all smart client providers.
The significance and impact of the emerging trend of transactions taking place on mobile devices is reflected by the March 18, 2010 Consultation Paper published by the U.K.’s Financial Services Authority (FSA). In this paper the FSA indicates its plan to require investment firms to record the conversations held by traders on firm provided mobile phones. This follows on the March 2009 requirement for firms to record voice and electronic communications and keep them for six months to discourage insider trading. The NICE mobile recording solution will enable financial services firms to adhere to FSA requirements and other like regulations relating to financial transactions that take place via mobile phones.
“There is clearly a desire for mobile phones to replace desktop voice hardware in many scenarios in the financial markets, where they could be used as the primary interaction device to run trading tools and perform financial transactions,” said Rik Turner, Senior Analyst, Financial Services Technology at analyst firm Ovum. “With legislating coming in mandating call recording for mobiles too, this places a burden on firms to ensure compliance, even when the device being used is not part of the fixed-line infrastructure. Being able to record trader interactions regardless of the type of phone that is used, fixed or mobile, in a way that doesn’t require replacing the existing recording infrastructure is the key to managing risk effectively and cost efficiently.”
NICE’s solution is based on an open architecture that can interface directly with the trader’s handset via a smart client, a mobile phone application that resides on the trader’s handset, or with a compliance server that is located on premises. Both the smart client and the compliance server automatically and simultaneously conference any interaction on the mobile handset to the NICE recording server with minimal impact on the user’s mobile experience. The open recording architecture of the NICE solution enables NICE business partners and mobile service providers who offer smart clients to seamlessly integrate with the NICE recording platform, while enabling the trading services firms to leverage their existing recording infrastructure and enjoy flexibility in the selection of the smart client provider.
"NICE brings with it over 20 years of market leadership and experience in providing compliance solutions to the global financial services industry, and with our unique approach to recording, analyzing and managing mobile interactions we are changing the face of the industry once again,” said Udi Ziv, President of the Enterprise Product Group at NICE. “By offering an open solution, we enable all of our partners and all smart client providers to offer NICE’s enterprise grade compliance recording solution to financial services customers; while enabling firms to deploy the solution with any mobile phone in any telephony environment, with unmatched flexibility, efficiency and reliability.
About NICE Systems
NICE Systems (NASDAQ: NICE) is the leading provider of Insight from Interactions solutions and value-added services, powered by advanced analytics of unstructured multimedia content – from telephony, web, radio and video communications. NICE’s solutions address the needs of the enterprise and security markets, enabling organizations to operate in an insightful and proactive manner, and take immediate action to improve business and operational performance and ensure safety and security. NICE has over 24,000 customers in more than 150 countries, including more than 80 of the Fortune 100 companies. More information is available at http://www.nice.com.
Trademark Note: 360° View, Alpha, ACTIMIZE, Actimize logo, Customer Feedback, Dispatcher Assessment, Encorder, eNiceLink, Executive Connect, Executive Insight, FAST, FAST alpha Blue, FAST alpha Silver, FAST Video Security, Freedom, Freedom Connect, IEX, Interaction Capture Unit, Insight from Interactions, Investigator, Last Message Replay, Mirra, My Universe, NICE, NICE logo, NICE Analyzer, NiceCall, NiceCall Focus, NiceCLS, NICE Inform, NICE Learning, NiceLog, NICE Perform, NiceScreen, NICE SmartCenter, NICE Storage Center, NiceTrack, NiceUniverse, NiceUniverse Compact, NiceVision, NiceVision Alto, NiceVision Analytics, NiceVision ControlCenter, NiceVision Digital, NiceVision Harmony, NiceVision Mobile, NiceVision Net, NiceVision NVSAT, NiceVision Pro, Performix, Playback Organizer, Renaissance, Scenario Replay, ScreenSense, Tienna, TotalNet, TotalView, Universe, Wordnet are trademarks and/or registered trademarks of NICE Systems Ltd. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Messr Ziv, are based on the current expectations of the management of NICE-Systems Ltd. (the Company) only, and are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the Company’s customer base (particularly financial services firms) and the resulting uncertainties; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; pressure on pricing resulting from competition; and inability to maintain certain marketing and distribution arrangements. For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.